CONFIDENTIAL 1 SULIT Template (A) Rev. 1: March 2008 U N I V E R S I T I Tun Abdul Razak FINAL EXAMINATION JANUARY 2009 COURSE TITLE BUSINESS MATHEMATICS COURSE CODE BQDIOI3 DATE/DAY I 26 APRIL 2009 I SUNDAY TIME/DURATION 2:30PM - 5:30PM /3 HOURS INSTRUCTIONS TO CANDIDATES: 1. This Question Paper consists of TWO (2) Sections, Section A and Section B. 2. Answer ALL Questions in Sections A and B. 3. Answer ALL questions in Section A in OMR Sheet and Section B in the Answer Booklets provided and submit them together with this question paper. 4. Candidates are not allowed to bring into the examination hall/room any form of written materials or electronic gadget except for stationery that is permitted by the Invigilator. 5. For this examination, the use of a scientific calculator is permitted. 6. Students who are caught breaching the Examination Rules and Regulation will be charged with an academic dishonesty, and if found guilty of the offence, the maximum penalty is expulsion from the University. (This Question Paper consists of 15 Printed Pages including front page) DO NOT OPEN THE QUESTION PAPER UNTIL YOU ARE TOLD TO DO SO
Transcript
CONFIDENTIAL 1 SULIT
Template (A) Rev. 1: March 2008
U N I V E R S I T I
Tun Abdul Razak
FINAL EXAMINATIONJANUARY 2009
COURSE TITLE
BUSINESS MATHEMATICS
COURSE CODE
BQDIOI3
DATE/DAY I 26 APRIL 2009 I SUNDAY
TIME/DURATION
2:30PM - 5:30PM /3 HOURS
INSTRUCTIONS TO CANDIDATES:
1. This Question Paper consists of TWO (2) Sections, Section A and Section B.2. Answer ALL Questions in Sections A and B.3. Answer ALL questions in Section A in OMR Sheet and Section B in the Answer
Booklets provided and submit them together with this question paper.4. Candidates are not allowed to bring into the examination hall/room any form of written
materials or electronic gadget except for stationery that is permitted by the Invigilator.5. For this examination, the use of a scientific calculator is permitted.6. Students who are caught breaching the Examination Rules and Regulation will be
charged with an academic dishonesty, and if found guilty of the offence, the maximumpenalty is expulsion from the University.
(This Question Paper consists of 15 Printed Pages including front page)
DO NOT OPEN THE QUESTION PAPER UNTIL YOU ARE TOLD TO DO SO
There are FORTY (40) multiple choice questions in this section. Answer ALL questions.
1. 37,855 rounded to the nearest thousand is:
A.40,000B.30,000C.38,000D.37,000E.None of these
2. At Circuit City a flat screen television with a regular price of $1,790 was reduced by $395.Assuming 800 customers purchased the computer, what were the total sales to Circuit City?
A.$1,160B.$116,000C.$1,161,000D.$1,116,000E.None of these
3. True Value Hardware buys 200 snowblowers for $90 each to stock the store for the winter. If TrueValue sells the 200 snowblowers at $120 each, what is the profit? (Sales - Cost)
A.$60,000B.$6,000C.$24,000D.$18,000E.None of these
4. 13/2 converted to mixed number is:
A.6 1/6B.6 1/2C.6 1/3D.6 3/4E.None of these
5. Lester Moy bought 2 new Michelin Tires for his car at $99.55 per tire. He was also charged $4.95per tire for mounting, $2.65 per tire for valves, and $3.99 per tire for balancing. What was Lester'sfinal bill?
A.$199.10B.$208.10C.$213.30D.$222.28E.None of these
6. Jeff Jones has locked in an oil delivery price of $1.95 per gallon. His tank holds 210 gallons. If Jeffhas 6 fill-ups during the winter, what will be his total cost?
A.$2,457B.$2,547C.$4,095D.$2,047.50E.None of these
8. Jane sells 8 times as many Volvos as Melissa. If the difference in their sales is 35, how many carsdid Jane sell?
A.35B.5C.45D.40E.None of these
9. Staples sells CD's ($2.00) and boxes of computer paper ($3). If total sales were $1,560 andcustomers bought 5 times as many CD's as boxes of computer paper, how many CD's were sold?
A. 120B.480C.600D.1,200E.None of these
10. A local Wal-Mart sells sweatpants ($7) and jackets ($14). If total sales were $6,160 andcustomers bought 8 times as many sweatpants as jackets, what would be the number of jacketssold?
A.880B.8C.88D.8,880E.None of these
11. At Shaw's Market apples cost $10 per case and bananas cost $6 per case. If an order comes infor a total of 300 cases for $2,000, what was the specific number of cases of apples? (Hint, Let A= cases of apples)
A. 5B.15C.50D.200E.None of these
12. In the percent increase or decrease problems, the portion is:
A.Original priceB.New priceC.1/2 the original priceD.Amount of increase or decreaseE.None of these
A.Always calculated on list priceB.Sometimes calculated with freightC.Sometimes calculated with returned goodsD.Never calculated on freight and returnsE.None of these
21. An invoice dated March 6 with terms of 1/10, E.O.M. results in the end of the discount period on:
A.May 10B.April 10C.May 30D.May 31E.None of these
22. 2/10, n/30 R.O.G. means the cash discount period ends:
A.Within 10 days of beginning date of invoiceB.Within 30 days of beginning date of invoiceC.20 days after beginning date of invoiceD.10 days after the goods are receivedE.None of these
23. Joanne's Dress Shop received an invoice dated July 25 for $1,400, with terms of 2/10, 1/15,n/60. On August 8, Joanne's Dress shop sent a partial payment of $750. The actual amount thatshould be credited is:
A.$765.31B.$765.30C.$757.58D.$757.59E.None of these
24. Markup is:
A.Selling price + costB.Selling price divided by costC.Selling price - costD.Selling price X (1 + cost)E.None of these
25. When markup is based on cost:
A.Cost is the portionB.Markup is the rateC.Cost is equal to selling priceD.Cost is 100 percentE.None of these
26. (1 + markup percent on cost) < cost equals:
A.Cost at wholesaleB.Cost at retailC.Selling priceD.MarkupE.None of these
27. Red Jeans Inc. sells jeans that cost $16.55 for a selling price of $35.99. The percent of markupbased on cost is:
A. 117.46 percentB.194.44 percentC.54.02 percentD.37.07 percentE.None of these
28. J.C. Penney sells a Timex watch for $139.99 that cost $89.97. J.C. Penney's percent of markupbased on the selling price is:
A.55.56%B.55.57%C.35.73%D.37.52%E.None of these
29. Lester Co. produces toys kites. It has a fixed cost of $62,150. If the selling price per unit is $9.50and the variable cost per unit is $6.25. The breakeven point is:
A.9,207B.6,542C.22,600D.29,860E.None of these
30. Interest is equal to:
A.Principal X rate divided by timeB.Principal divided by rate X timeC.Principal x timeD.Principal X rate X timeE.None of these
31. A note dated August 18 and due on March 9 runs for exactly:
A.230 daysB.227 daysC.272 daysD.203 daysE.None of these
32. Interest on $5,255 at 12 percent for 30 days (use ordinary interest) is:
A.$52.55B.$55.25C.$ 5.26D.$ 5.25E.None of these
33. Jill Ley took out a loan to pay for her child's education for $60,000. The loan would be repaid atthe end of 8 years in one payment with an interest of 6 percent. The total amount Jill has to payback at the end of the loan is:
A.$88,008B.$80,800C.$88,800D.$28,800E.None of these
A.Calculates interest periodicallyB.Looks into present when the future is knownC. Is done only on an annual basisD.Results in less interest than simple interestE.None of these
35. In tables for calculating compound interest, the number of periods is equal to:
A.Number of years divided by rateB.Number of years X rateC.Number of years >< number of times compounded per yearD.Number of years divided by number of times compounded per yearE.None of these
36. The interest on $6,000 at 6 percent compounded semiannually for 8 years is: (Use table in thehandbook)
A.$3,628.20B.$3,682.02C.$362.82D.$13,628.20E.None of these
37. By using the table in the handbook, the present value of $12,000 for six years compounded at 6percent semiannually is:
A.$12,814.08B.$8,461.08C.$8,416.80D.$8,614.80E.None of these
38. An annuity is:
A.Not used by lotteries todayB.A one time paymentC.A stream of paymentsD.Never made up of equal paymentsE.None of these
39. A sinking fund:
A. Requires at the beginning one lump sum paymentB.Is really not an annuityC.Aids in meeting a future obligationD.Does not compound its moneyE.None of these
40. Nancy Billows promised to pay her son $600 quarterly for 4 years. If Nancy can invest her moneyat 6 percent in an ordinary annuity, Nancy must invest how much today? (Use the tables in thehandbook)
A.$10,759.38B.$10,759.83C.$8,478.72D.$8,478.27E.None of these
There are FIVE (5) questions in this section. Answer ALL questions.
Pens cost $6 per carton and elastics cost $4 per carton. If an order comes in for a total of 12cartons for $60, what was the specific number of cartons of pens as well as elastics? (Hint: let P =Cartons of pens.)
(6 marks)
2. The original price of a 2003 Honda Insight to the dealer is $17,995, but the dealer will pay only$16,495. If the dealer pays Honda within 15 days, there is a 1% cash discount.
(a)How much is the rebate?
(b)What percent is the rebate? Round to nearest hundredth percent.
(c)What is the amount of the cash discount if the dealer pays within 15 days?
(d)What is the dealer's final price?
(e)What is the dealer's total savings? Round to nearest hundredth.(10 marks)
3. Government allows the treasurer to place funds in banks at 2 percent below the market interestrate. The bank then agrees to lend the funds to individuals or businesses for 2 percent below thenormal charge, to help the victims of disaster to secure emergency short term loans. Sallehqualifies for an emergency loan. He will need $3,500 for 5 months and the local bank has aninterest rate of 4 percent.
(a)What would have been the maturity value of a non-emergency loan?
(b)What will be the maturity value of the emergency loan? Round to the nearest cent.(6 marks)
4. Mary started her first job at 22. She began saving money immediately but stopped after five years.Mary invested $2,500 each year until age 27. She receives 10% interest compounded annuallyand plans to retire at 62.
(a)What amount will Mary have when she reaches retirement age? Use the tables.
(b)What is the total amount of interest she will have received?(8 marks)
5. On July 8, 2009, ABC bought a set of pots with a RM120 list price from XYZ. ABC's receives a25% trade discount. Term of the sale were 2/10, n/30. On July 14, ABC's sent a cheque to XYZfor the pot. ABC's expenses are 20% of the selling price. ABC's must also make profit of 15%ofthe selling price. A competitor marked down the same set of pots 30%. Assume ABC's reduces itsselling price 30%.
(a) What is the sale price at ABC?(b) What was the operating profit or loss?
(10 marks)
(TOTAL MARKS:80)
**END OF QUESTION**
Business Mathematics (BQDI0I3) CONFIDENTIALJanuary 2009 Final-Semester Examination
Appendix I
LIST OF FORMULAS
Part = Base x Rate I = PRT
Trade Discount = List price x rate M = P + I
Net Cost (price) = List price - trade/cash B = MDT
discount pM=
Net cost = List price x complement of individual 1-DTdiscounts
P=M—BSingle discount equivalent = 1 - net costequivalent = FV
(i+)Markup = Selling price - Cost i = n = kT, whereMarkdown percent = Markdown amount M = p(i +
Original priceCompoundAmount/MaturityValue/FutureValue
B/E = Cost + Operating ExpensesCompound amount = P x table value
Markdown = Original SP - Reduced SPCompound interest = M - P
Operating loss = B/E - Reduced SPPV (P) = FV x table value
Absolute loss = Cost - Reduced SF
Net profit = Selling price - OE - CostAmount of annuity = payment x table value
